What Is The Solar Wind Joy Indicator & How To Trade With It

Solar Wind Joy Indicator

Solar Wind Joy is a technical indicator comprised of bullish (green) zone and bearish (red) zone. It is an oscillator that attempts to forecast the trend reversal and also tells you the strength of trend. The Solar Wind Joy indicator can be used for trading forex, stocks, commodities, indices, cryptocurrencies and any other trading instrument that you can load in your trading platform.

What is Solar Wind Joy indicator?

The Solar Wind Joy indicator is a histogram forex trading indicator. It is displayed on the chart in a separate window. It gives a clear signal on the chart in first glance but it is not necessary that such signals are always working. There are two variations in the Solar Wind Joy indicator, repainting and non-repainting. The non-repainting indicator does not redraw and can help to give a clear picture of the trend.

It is useful to learn about the key features of the indicator in order to use it well. The Solar Wind Joy indicator helps to let you know the strength of buyers and sellers. The red bars of the histogram indicate that the sellers are in control while green bars of histogram show that the bulls are in control.

Solar Wind Joy indicator on chart
Solar Wind Joy indicator on chart

How to use Solar Wind Joy indicator?

The Solar Wind Joy indicator can be used in various ways like any other oscillator. The indicator is not only used for seeking trend signals but it is also used for exiting the trades based on strength of the trend. It can be used in following ways:

Zero line

The zero line is a decisive level in the indicator. It tells you the existing trend and the extent of the trend. If the histogram bar is above the zero line, it shows green color and is considered a bullish trend. Here, we may look for a buying opportunity. Similarly, the red colored histogram bar shows that the trend is bearish and we may look for a selling opportunity.

Solar Wind Joy indicator zero line trading
Solar Wind Joy indicator zero line trading

Using extremes

You can use the extremes of the indicator histograms for exiting trades or even finding new trading opportunities as well. It is almost the same as using the oversold and overbought conditions. We can look for a selling opportunity when the green histograms are at extreme and then start declining. Similarly, we can look for buying opportunities when the red histograms start shrinking and the indicator line turns upward.

Using extremes of Solar Wind Joy indicator
Using extremes of Solar Wind Joy indicator

Solar Wind Joy indicator trading strategy

We can combine the Solar Wind Joy indicator with any other confirmatory tool to trade. We are presenting a straightforward strategy that is standalone using the Solar Wind Joy indicator.

Solar Wind Joy indicator buy strategy

  • The histogram bar should cross above the zero-line closing the green bar.
  • Wait for the price bar to close bullish and then enter the trade.
  • Place the stop-loss around the recent swing low.
  • Exit when the green histogram bars start shrinking and the indicator line directs downward.
Solar Wind Joy indicator buy setup
Solar Wind Joy indicator buy setup

Solar Wind Joy indicator sell strategy

  • The histogram bar should cross below the zero-line closing the red bar.
  • Wait for the price bar to close bearish and then enter the trade.
  • Place the stop-loss around the recent swing high.
  • Exit when the red histogram bars start shrinking and the indicator line directs upward.
Solar Wind Joy indicator sell setup
Solar Wind Joy indicator sell setup

Solar Wind Joy indicator conclusion

The Solar Wind Joy indicator works the same way as any other oscillator. We can use it to trade or to determine the strength of a trend. Like any other indicator, the Solar Wind Joy indicator may also produce false signals that may require you to use additional indicators to filter them.